Refinance car question?

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New member
My understanding of when you refinance a car loan with another bank is
your first loan will show on credit report as "paid as agreed" and you will have a new
loan for the remaining balance on your credit report?

So this would be a good way to build credit because when the car is paid off you have
two "paid as agreed" loans on your credit report.

Am I correct on this?

Thanks
 
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